Aliko Dangote

Biography

Began as a trader of cement, sugar and other goods in Lagos. Moved from importing into manufacturing those goods in Nigeria, building Africa's largest cement producer.

Starting point: Started trading commodities in 1977 with a loan from his uncle.

The lesson

Summary: start by trading goods your market imports, then produce them locally to capture more value.

How it helps you

In many markets, imported goods sell at high prices. Trading teaches you demand; local production can then cut costs.

Practical steps

1. List 5 goods your area imports.
2. Find which one sells fastest locally.
3. Start by reselling it at a fair margin.
4. Research what it would take to make it locally.

Sources

• Britannica: Aliko Dangote
• Wikipedia: Dangote Group